June 24, 2018

‘Iran-China economic ties to hike’

TEHRAN- Iran-China economic relations will improve regardless of third-party countries’ internal rules, Spokesman of the Chinese Ministry of Commerce Gao Feng told IRNA on Saturday.
June 24, 2018

Inflation rate at 8.2%: statistical center

TEHRAN- The Statistical Center of Iran announced that the inflation rate in the twelve-month period ended on the last day of the third Iranian calendar month Khordad (June 21) stood at 8.2 percent, up 0.2 percent from its previous month, IRNA reported ...
June 23, 2018

The aftermath of OPEC’s decision on rising output

The members of the Organization of the Petroleum Exporting Countries (OPEC) reached a consensus on Friday to increase their crude output in order to address concerns over rising oil prices, however the group didn’t give any clear information regarding ...
June 23, 2018

TCCIMA agricultural committee chairman becomes a board member of ISOA

TEHRAN- Kaveh Zargaran, the chairman of the Agricultural Committee at the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), became a board member of International Sunflower Oils Association (ISOA).
June 23, 2018

Iran will find other ways to overcome sanctions: Zanganeh

TEHRAN- Saying that Iran doesn’t believe buyers of its oil will get waivers from the U.S. government, Iranian Oil Minister Bijan Namdar Zanganeh said his country will find other ways to overcome sanctions.
June 23, 2018

$6bn Oil Projects for Domestic Contractors

A senior Iranian oil official said the country was planning to entrust 6 billion dollars’ worth of enhanced oil recovery and production sustainability projects to domestic companies. Gholamreza Manouchehri, deputy CEO of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs, said once NIOC’s 34 working packages valued at $6 billion become operational, […]
June 23, 2018

Iran Manufactures First Domestic Rail Tracks

Esfahan Steel Company (ESCO) has announced that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, saying the rails are on par with the latest global standards. ESCO announced on Monday that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, the Medi Telegraph reported on Tuesday. The rail […]
June 23, 2018

Stock market index gains 12,583 points in 55 days

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 12,583 points to hit 108,872 points during 55 days since the beginning of current Iranian calendar year (March 21), Mehr news agency reported on Friday.
June 23, 2018

Tehran, Bratislava confer on boosting economic ties

TEHRAN- In his one-day trip to Slovakia on Thursday, Iranian Economy Minister Masoud Karbasian explored development of mutual economic ties with his Slovakian counterpart Peter Žiga.
June 23, 2018

U.S. sanctions wont affect Tehran-Baghdad oil swap deal: Iraq

TEHRAN – Iraqi Oil Minister Jabar al-Luaibi said the future U.S. sanctions on Iran will not affect the oil swap agreement reached in December 2017 between the two countries, Reuters reported. The minister made the remarks on the sidelines of on OPEC ...
June 22, 2018

Tehran, Dushanbe discuss Iranian companies’ contribution to Tajikistan’s road-building projects

TEHRAN- In a meeting between Iranian energy minister and Tajikistan's transport minister in Dushanbe, the two sides discussed the issue of Iranian companies’ presence in the road-building projects in Tajikistan.
June 22, 2018

Iran, Serbia ink trade, aviation & agro co-op MOUs

TEHRAN- During the 15th meeting of Iran-Serbia Joint Economic Committee in Belgrade on Thursday, the two countries signed three memorandums of understanding (MOUs) on trade, aviation, and agricultural cooperation, Shata news agency reported.
June 22, 2018

OPEC output gain ‘nominal’

OPEC agreed on Friday to raise oil production by around 1 million barrels per day (bpd) from July for the group and its allies, an OPEC source said.
June 22, 2018

Gazprom “in Talks” to Develop Iranian Fields

A senior official with Gazprom said Russia’s gas giant is in talks with the National Iranian Oil Company (NIOC) to develop four gas fields in Iran. The company plans to expand its reserve base abroad and is stepping up talks on its participation in four Iranian fields, namely Kish, North Pars, Farzad A and B, […]
June 22, 2018

Indian Bank to Stop Handling Iran Oil Payments

India’s oil imports from Iran will be affected from the end of August as the State Bank of India (SBI) has informed refiners it will not handle payments for crude from the Islamic Republic from November, the finance head of Indian Oil Corp said on Friday. “(Oil) loading will be affected from end-August under the […]
June 21, 2018

Iran Rail signs Contract with Swiss Firm

Iran’s state-owned railroad company signed a contract with Swiss company Matisa for the maintenance and supply of railroad machines. According to the contract, Matisa, the Swiss manufacturer of track maintenance equipment that was established in 1945, will carry out the overhaul of two ballast machines in Iran. Apart from making repairs on nine other ballast […]
June 21, 2018

Renault to Remain in Iran despite US Sanctions

French carmaker Renault will maintain its presence in Iran despite the threat of renewed US sanctions, CEO Carlos Ghosn said. “We will not abandon it, even if we have to downsize very strongly,” Ghosn said at the annual shareholders’ meeting in Paris on Friday, AFP reported. “When the market reopens, the fact of having stayed […]
June 21, 2018

Iran, Switzerland hold New Round of Talks

Iran and Switzerland have held a fresh round of their bilateral political negotiations in Tehran. Given the Islamic Republic of Iran and the Swiss Confederations interest in the promotion of bilateral ties, the new round of comprehensive political talks was chaired by Iranian Deputy Foreign Minister for Political Affairs Abbas Araqchi and Head of the […]
June 20, 2018

Daily gasoline output up 18m liters in 3-month on year

TEHRAN- Daily production of gasoline in Iran has increased by 18 million liters during the three-month period started from the beginning of current Iranian calendar year (March 21) compared to the same period of time in the past year, according to the ...
June 20, 2018

Bank loans to economic sector rise 21% in 2 months yr/yr

TEHRAN- Iranian banking system’s offered facilities to domestic economic sectors during the two-month period from March 21 to May 21 increased by 21 percent, in comparison with the same period of time in the year before, the Central Bank of Iran (CBI) ...